Initial notification to FCA

The notification must be made as early as possible and in any event not less than 20 business days before it sends the circular required under LR 5.4A.4 R (2)(a) or publishes the announcement required under LR 5.4A.5 R (2).

The FCA will not generally reassess compliance with eligibility requirements (for example LR 6.1.16 R (Working capital) if the issuer has previously been assessed by the FCA as meeting those requirements under its existing listing category when its equity shares2 were listed.

Transfer as an alternative to cancellation

There may be situations in which an issuer's business has changed over a period of time so that it no longer meets the requirements of the applicable listing category against which it was initially assessed for listing. In those situations, the FCA may consider cancelling the listing of the equity shares2 or suggest to the issuer that, as an alternative, it applies for a transfer of its listing category.